Construction & Real Estate

Rapid economic expansion in Mongolia over the past half-decade has played out across many of the country’s constitutive industries, and construction and real estate are no exceptions. Much of this growth took place in the residential segment, which has been the focus of an increasing number of large-scale, state-led development projects in recent years. Given the attention the construction sector is drawing from the public and private sectors, most local construction firms are looking forward to higher revenues in the years ahead. Growth in the real estate sector can be attributed to a state-sponsored mortgage scheme, fast-growing demand for commercial retail space, and, more broadly, increasing urbanisation and rising incomes among the burgeoning middle class. Despite challenges, including the dip in real estate prices in late 2014 and early 2015, many property developers and market-watchers remain optimistic about the future.

This chapter contains interviews with G. Batdorj, Executive Director, Khutul Cement Shohoi JSC; and B. Jugder, President, National Development Corporation.